Moderna Inc. on Thursday forecast declining COVID-19 vaccine sales and rising costs for 2023, raising concerns the U.S. biotech company could post a loss this year, and its shares fell 7 percent. Moderna forecast $6 billion in costs for the year, $1 billion more than the revenue it expects to take in from sales of…
Moderna Forecasts COVID-19 Sales Decline as Costs Rise, Shares Fall
TJX Sales May Surge in 2023 on Bargain Hunting for Top Fashion Brands
TJX Cos Inc. is likely to see a strong growth in annual sales as inflation pushes bargain-hungry but brand-conscious customers to off-price retailers offering cheaper deals and promotions. The expected surge in demand for companies such as TJX, Ross Stores, and Burlington Stores Inc follows a dull 2022 in which pandemic-weary consumers refreshed their wardrobes…
Beyond Meat Beats Q4 Forecasts Despite Flagging Sales
Beyond Meat on Thursday reported better-than-expected fourth quarter sales despite flagging consumer demand and lower prices. The plant-based meat maker said its revenue fell 21 percent to $80 million in the October-December period. Still, that beat Wall Street’s expectations. Analysts polled by FactSet were forecasting revenue of $75.8 million. Beyond Meat’s shares jumped 14 percent in…
China’s Auto Output and Sales Plummet in January Despite Local Government’s Purchase Incentives
Despite multiple stimuli such as price cuts and government-issued consumer vouchers, the Chinese auto market started the new year on a gloomy note in January, with both manufacturing and selling being heavily shrunken. This January began with a double-digit decline in auto output and sales, mainly pertaining to passenger cars, and demand for commercial vehicles…
Caterpillar Sales Jump 20 Percent in Fourth Quarter, but Profit per Share Falls
American construction equipment manufacturer Caterpillar saw strong sales growth in the fourth quarter, but registered lower year-over-year profit per share, reportedly owing to foreign exchange headwinds. Caterpillar’s fourth-quarter 2022 sales and revenues came in at $16.6 billion, which is a 20 percent increase from the $13.8 billion made in fourth quarter 2021, according to a press…
Toyota Defends Title as World’s Top-Selling Automaker in 2022
TOKYO—Toyota Motor Corp. sold 10.5 million vehicles in 2022, it said on Monday, defending its title as the world’s top-selling automaker for a third straight year. Global sales for the group, including truck unit Hino Motors and small-car maker Daihatsu, inched down 0.1o percent as record overseas sales of 8.6 million vehicles helped offset a…
December Retail Sales Fall 1.1 Percent as Inflation Takes a Toll
NEW YORK—Americans cut back on spending in December, the second consecutive month they’ve done so, underscoring how inflation and the rising cost of using credit cards slowed consumer activity over the crucial holiday shopping season. Retail sales fell a worse-than-expected 1.1 percent in December, following a revised 1 percent drop in November, the Commerce Department reported…
Volkswagen Group Deliveries Lowest in Over a Decade
BERLIN—The Volkswagen Group reported its lowest sales in over a decade in 2022 as COVID-19 lockdowns in China and the war in Ukraine upended supply chains, and a fourth-quarter recovery risks running into further challenges this year. The German group, whose brands range from mass-market VWs and Skodas to premium Audis and Bentleys, said on…
Mercedes-Benz Sells 2.05 Million Passenger Cars in 2022
BERLIN—Mercedes-Benz delivered 2.05 million passenger cars in 2022, the company said on Tuesday, down 1 percent on the previous year as the carmaker felt the impact of COVID-19 measures and bottlenecks. Still, fourth-quarter sales rose 17 percent as logistics and supply chain bottlenecks eased, and battery-electric sales grew 124 percent over the course of the…
Rolls-Royce Rides Ongoing Luxury Demand to Sales Record in 2022
LONDON—Rolls-Royce on Monday reported record sales last year despite an average price tag of around $534,000 for its luxury cars and a drop in Chinese demand, with orders stretching into 2023. The British carmaker, which began as Rolls-Royce in Manchester, England nearly 120 years ago and is now owned by Germany’s BMW, said that it…
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